Automobile Insurance: The Basics. What is the likelihood you will be in an automobile accident?

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Presentation transcript:

Automobile Insurance: The Basics

What is the likelihood you will be in an automobile accident?

Automobile Insurance: The Basics Even a minor accident can result in thousands of dollars in damages

Automobile Insurance: The Basics If you are in an accident how do you pay for it?

Automobile Insurance: The Basics What is Automobile Insurance?

Why do I need auto insurance

Automobile Insurance: The Basics Are you a risk to the insurance company?

Automobile Insurance: The Basics What is the insurance company looking for?

Automobile Insurance: The Basics What determines your premium?

What are third-party coverages? Types of Automobile Insurance Coverages

What are first-party injury coverages? Types of Automobile Insurance Coverages

What are first-party property coverages? Types of Automobile Insurance Coverages

What is a Deductible?

Automobile Insurance: The Policy

Five parts to an insurance policy Automobile Insurance: The Policy

Automobile Insurance: Accidents

Steps to take after an accident Help anyone who is injuredHelp anyone who is injured You have an ethical and legal responsibilityYou have an ethical and legal responsibility Notify the policeNotify the police Prevent further accidentsPrevent further accidents Protect the accident sceneProtect the accident scene Record informationRecord information Exchange information with the parties involvedExchange information with the parties involved Take note of time, location, weather, and road conditionsTake note of time, location, weather, and road conditions

It is important that the accident is reported promptly to the insurance agent or company The policy will guide the insured on the correct steps to take to report the claim The company will guide the insured through the process Filing a Claim

When you are liable for an accident Filing a Claim

Automobile Insurance: The Basics What can you do to reduce risk and lower premiums?

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